Seniors are not saving enough for retirement - WTVM.com-Columbus, GA News Weather & Sports

Seniors are not saving enough for retirement

Photo credit: www.images.businessweek.com Photo credit: www.images.businessweek.com
(WTVM) -

A study finds that senior citizens in nearly every state in the U.S. are falling short when it comes to affording their retirement years.

Nationwide, seniors are living off a median household income of just over $35,000.

That's about 57% of the median income for their younger counterparts.

Typically, financial planners recommend retirees save enough to replace at least 70% of their pre-retirement income.

Copyright 2013 WTVM. All rights reserved.

Powered by Frankly